Mega partners with RiseUp to help sari-sari stores obtain business financing

Sari-sari stores are an important part of Filipino culture. Across the archipelago, from the most far-flung provinces to urban centers, there are thousands of stores providing Filipinos easy access to their daily needs: from canned goods to cold bottled beverages, to toiletries, to even school supplies, the list is endless.

At the same time, these sari-sari stores serve as the main source of income for countless enterprising Filipinos and have kept the wheels of the local economy moving. However, the microentrepreneurs behind these sari-sari stores often have limited funds to expand their operations.

Recognizing the important role of sari-sari stores in the lives of Filipinos, Mega Sardines, the Philippines’ #1 sardines brand, has partnered with Resilient, Innovative and Sustainable Enterprises, Unleash your Powers or RiseUP Tindahan, a government program that aims to help micro, small, and medium enterprises recover from the pandemic by offering collateral- and interest-free loans from the Small Business Corp., the financing arm of the Department of Trade and Industry (DTI).

RiseUP Tindahan, which offers as much as P300,000 in loans, has two programs: Micro-Tindahan Loans for sari-sari stores with FMCG accreditation; and SME Tindahan Loans, for retail stores, dealers, and distributors with FMCG accreditation.

To help sari-sari store owners accredited by Mega avail of financing under the RiseUP Tindahan program, Mega will pave way for accreditation by providing data on historical purchases, a key requirement that

will help them obtain loan approval. In so doing, Mega will help sari-sari store owners fulfill program requirements, knowing that they often struggle with documentary requirements.

Driven by the company’s core value of malasakit, Mega aims to reinforce its positioning as an industry leader through community efforts and initiatives like this.

“Mega believes in RiseUP’s goal to help sari-sari store owners recover from the pandemic and bounce back stronger. We deeply value our sari-sari store partners and distributors, and we would like to show our support by helping them with their loan accreditation requirements. In doing so, we can all rise up stronger together and better,” said Marvin Tiu Lim, Mega’s Chief Growth & Development Officer.

Throughout the pandemic, Mega has endeavored to help reinvigorate the Philippine economy, working closely with partners to bring meaningful assistance where it is most needed.

Credit belongs to :

Check Also

Amazon ordered to pay more than $30M for privacy violations related to Alexa, Ring devices

Amazon agreed Wednesday to pay a $25 million US civil penalty to settle Federal Trade …